Norwich Elm Farm, 55 Norwich Road, Horsham St. Faith, Norwich, Norfolk, NR10 3HH

Description

Former wedding and event venue arranged over two storeys with additions to the side and rear. The hotel, land and buildings offer potential for alternative uses and/or redevelopment, subject to consents. Total floor area (GIA) approximately 998 sq m (10,740 sq ft). Site area approximately 0.556 hectares (1.373 acres). Situated within Horsham St Faith Conservation Area. The property was closed following a fire affecting part of the first floor. The fire is believed to have started within the first floor accommodation, within the eastern range, directly above the commercial kitchen. Some photographs were taken before the fire. By order of LPA Receivers.

Accommodation

Hotel providing breakfast/dining/function area (35 covers), lounge (22 covers), bar and reception room (22 covers), conservatory, and two ensuite bedrooms. Front and rear gardens, pond and parking.

Location

Situated on the east side of Norwich Road, within the desirable village of Horsham St Faith. Local amenities are available in Horsham St Faith, with further shopping facilities in Norwich to the south. Norwich rail station is approximately 5.5 miles to the south. The A1270, A140 and A47 are easily accessible. Norwich Airport is within a 5-minute drive. The property is situated within Horsham St Faith Conservation Area.

Tenure / Property Information

Investment Analysis

The £300,000+ guide is supported only as the auction guide, not as a market valuation. Local completed sales range from £320,000 to £972,612, but the comparables are different property types and do not establish a value for this 998 sq m former hotel with fire damage, commercial accommodation and redevelopment potential. The 0.556-hectare site is within a Conservation Area, and no planning evidence, building survey, reinstatement scope or development appraisal is supplied. A reliable GDV therefore cannot be established.

Investment Snapshot

Strategy Recommendation

Do not bid on the guide alone. Proceed only after specialist fire, structural and asbestos/building surveys, a planning and Conservation Area review, and a fully costed hotel, alternative-use or redevelopment appraisal. Without that evidence, the property is unsuitable for a conventional BTL or flip decision.

Works Required

Obtain a full fire-damage, structural and building survey; assess the affected first-floor eastern range and areas above the commercial kitchen; undertake only properly specified reinstatement, repair and refurbishment works supported by the surveys. Review the existing hotel layout, services, parking and grounds, and investigate any alternative-use or redevelopment proposal through the necessary planning and Conservation Area consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal cannot be completed because the fire reinstatement cost, post-works value, achievable rent, finance costs and planning position are unknown. The vacant freehold property may offer repositioning potential, but the Conservation Area and possible alternative-use or redevelopment consents create substantial uncertainty.

Buy-to-Let Analysis

BTL returns cannot be established. No sufficiently specific rental evidence, passing rent or auctioneer rent estimate is supplied, and the property is a former hotel rather than a clearly defined residential dwelling. Conversion or alternative use would require assessment of condition and planning requirements.

Flip Analysis

A flip appraisal cannot be supported. The local completed sales are not sufficiently comparable to this former country house hotel, and there is no reliable GDV, refurbishment budget, planning outcome or selling-cost allowance. The guide price alone is not enough to calculate a surplus.

Investor Risks & Due Diligence

• Unknown extent and cost of fire damage and reinstatement.

• Potential structural, building-services and other defects have not been assessed.

• Alternative uses and redevelopment are expressly subject to consents that have not been evidenced.

• The property is within Horsham St Faith Conservation Area, potentially constraining alterations or redevelopment.

• No sufficiently specific rental evidence or passing income is available.

• Supplied sold comparables are different property types and do not establish a reliable GDV.

• Additional seller or third-party charges may apply and VAT applies according to the Special Conditions of Sale.

Recommendation

Do not bid on the guide alone. Proceed only after specialist fire, structural and asbestos/building surveys, a planning and Conservation Area review, and a fully costed hotel, alternative-use or redevelopment appraisal. Without that evidence, the property is unsuitable for a conventional BTL or flip decision.

Strategy Rating

Analysis Confidence

The evidence confirms the site, existing use, vacancy, fire history, guide price and several local sales, but omits the fire scope, works cost, planning position, rental evidence, valuation and auction charges.